Fintech talent is in high demand with a 182 per cent rise in the number of jobs advertised during the first quarter of this year.
According to new research from recruitment firm Robert Walters’ Global Fintech Talent Report, fintech job vacancies have jumped post-Covid, outperforming the wider market by three times.
The UK, US, Japan, Spain, Australia, Singapore, China and the Netherlands accounted for more than 90 per cent of all new fintech jobs advertised around the globe.
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In the UK, fintech vacancies rose by 136 per cent during the first quarter, year on year.
The US saw the largest rise in tech vacancy growth (223 per cent), with the majority of this growth in New York City (246 per cent) and San Francisco (200 per cent). This was followed by Japan (214 per cent) where blockchain technology accounts for nearly a third of all fintech firms in the nation.
However, Robert Walters predicted the fintech sector will face major hurdles this year as an acute tech talent shortage around the globe threatens to slow fintech growth.
“The forecast for organisations working in the global fintech market is a very positive one, however, their growth will be dependent on their ability to recruit and retain the right tech talent,” said Toby Fowlston, chief executive of Robert Walters.
“The most advanced economies have long established that they cannot be ‘good at everything’ and instead have focussed their efforts in becoming specialists in a few core areas.
“For example – you have Germany for engineering, China for manufacturing, and the UK for banking. But no country quite has a dominance over technology and given the remote and mobile nature of the tech industry it seems that all major economies are competing for a slice of the fintech pie.
“Whilst the outcome of competition means heightened innovation and consumer choice, from a talent perspective this creates a challenge and as the adoption of fintech products continues to grow at an exceptional rate the concern is whether there is enough of the right tech talent to keep up with the growth.”